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CMB’s ‘Mobile Wallet’ ushers in a New Era of Mobile Payment

Recently, CMB signed a strategic deal with HTC (Beijing) in Beijing to offer cutting-edge mobile payment services for Chinese consumers. As the first mobile payment solution in China’s banking sector, CMB’s ‘Mobile Wallet’ has opened a new chapter in payment settlement by incorporating bank card capabilities into a mobile phone. 

The service supports the latest 3G phones and the networks of all China’s three leading operators. 

CMB’s ‘Mobile Wallet’ is now available on HTC’s top 3 best-selling handsets with NFC: Desire C, One XC and One X. You can preinstall CMB’s Touch card on any of these phones to access the ‘Mobile Wallet’ service. CMB is planning to extend this service to a wider range of phones. China Mobile, China Unicom and China Telecom, China’s top three telecom operators, support this service. 

Swiping your phone for payment

By loading a bank card account into a 3G phone with a built-in security chip, the ‘Mobile Wallet’ fuses mobile phone and bank card capabilities. To pay at a counter, just swipe your phone instead of your bank card on the POS machine marked with ‘Quick Pass’, enter a password, and wait for the change. This removes the hassle of carrying cash, entering passwords, and signing receipt slips. 

The service is available in a wide variety of retail stores nationwide

You can use CMB’s Mobile Wallet on a POS machine marked with Quick Pass in any store in China for quick payment. Service-enabled stores include supermarkets, fast food restaurants, convenience stores, bakeries, and coffee shops. The service also enables you to search the ‘Mobile Want’ app on your phone for qualified local retailers. 

Easy and quick OTA charging

CMB has developed an innovative feature – over-the-air (OTA) charging – as part of its ‘Mobile Wallet’ service. This feature allows you to top up your Mobile Wallet account up to RMB1,000 using your phone anytime anywhere after you have associated a CMB card with the TOUCH card. CMB plans to a launch credit card-based charging service at a later time. 

Free offers up for grabs

Currently, CMB offers a series of discounts for the ‘Mobile Wallet’ service, including RMB50 worth of free minutes for activating the service at any CMB outlet, and an additional RMB50 worth of free minutes for using the service five times in a month. CMB plans to extend the reach of its easy and quick Mobile Wallet payment service to mobile subscribers across China. 

According to the CMB manager responsible for Mobile Wallet, the service is protected by multiple security mechanisms designed to safeguard your money.